The acoustic vehicle alerting system market will power at a rate of 11.9% by the end of this decade to touch USD 10,578.8 million by 2030 because of the strict emission standards and support of the government, as grants, tax rebates and subsidies, and other non-monetary benefits, for promoting EVs adoption.

As a result of the accelerating requirement for EVs, a total of 24.7 million AVAS were installed in e- two-wheelers and passenger cars in the past.

The four-wheeler category will grow faster by the end of this decade. This is because of the fast acceptance of light-duty trucks and e-cars, chiefly because of the incessant innovations, decreasing prices, and obtainability of numerous models with automakers.

In the future, in the developed economies in Europe, and the U.S., the acoustic vehicle alerting system market will be led by the four-wheeler category, while in developing economies like China and India, it will be led by the two-wheelers.

The OEM category had the higher revenue in the past as a result of the growing installation of AVAS components in EVs, as per the mandatory norms of governments.

While, the aftermarket will grow faster in the future, chiefly because of the natural deterioration and end of life of AVAS machineries and the regulations of the government in leading markets for such systems and EVs. For example, the U.S. has authorized the retrofitting of AVASs in old electric vehicles by 2021.

The integrated category will grow faster in the industry. This is because of the growing incorporation of AVASs in four-wheelers, where these components form a key part.